🇺🇸⚜️🎬 I have sent this podcast to enough friends now that I decided to just go ahead and share it with everyone. It is the best explanation I’ve heard yet that helps answer the all-important question of “What in tarnation is going on with the film industry?” As we celebrate Independence Day (both July 4th and the 1996 film of the same name that gave us a good reason to go to the movies once upon a time), I would like to propose we also observe a “Less Dependence” Day in the future because the future of art and good storytelling is looking increasingly independent and a lot less corporate. Louisiana needs to be less dependent on Hollywood for work. America needs to be less dependent on major studios and huge corporations that care more about shareholders than audiences. The world needs to be less dependent on bean counters and put a much greater emphasis on writers and original content. That is why Congress needs to bolster IRC Section 181 so that private equity will flow into individual projects and not just giant companies that are too scared to make anything but sequels and reboots.
Max Hass, Esq.
4mo
This is the first time I’ve heard the suggestion that a specific section of the IRC be revised to help the film industry. Just did a brief review of IRC 181 - what aspects of that section need to change to help bring more investment to indies?
Hi Patrick! Hope u have been well. All interesting points. And agree that 181 could use a revamp. Having used it w finance in the past, the passive income really is only for those who make a ton of money in a corp to bring down the business income. It was created to stop runaway production to europe and canada years ago. Times seem to mirror the trend overseas now. Is there a current effort to lobby to bring this to individual income? I know the dga did an in depth review years ago and still has the info on site. Just curious.
Carroll Morton
4mo
I was pointing out that Louisiana has produced 40-43 of major film and tv shows per year. We may see more indies in our market but it will reduce the economic impact to our state. But as Patrick pointed out this could be inevitable in the US. I certainly agree the next few years will be different.
Stanley B. Gill
4mo
Is this a dead link?
Dennis Maguire
4mo
Patrick, I have several in house Louisiana film projects; but finding Local Louisiana Financiers is difficult.
Linda LeBlanc
4mo
It’s been that way since the beginning!
Linda LeBlanc
4mo
Thanks for sharing
Carroll Morton
4mo
Patrick I see your point. After the strike years and studio’s return on investment shrinking smaller budgets are inevitable. Independent films make sense.
Amy Rodrigue
4mo
Thanks for posting. Enjoyed it.
Executive Director New Orleans Film Society
4moI agree. Except that Louisiana remains the 4th major production hib in the US behind Los Angeles. New York and Atlanta. Major Filn and Studio projects employ thousands of Louisiana union workers at high wages with healthcare and returement in addition to 7 film studios and film equipment companies acrosd the state. All of that revenue disappears as independent films fo not support any of that. What I stongly support is both. And all things film - independent filmmaking, studio fims, union and non-union workforce, film edicatiiom in schools, infrastructure investment, marketing. The stronger we are insures that we can renain sustainsbile as the tides continue to shift.